BOGOTA (Reuters) – Colombia’s central bank on Tuesday raised its outlook for 2023 inflation to 9.5% from 8.7%, reflecting persistent consumer price growth that has prompted the bank’s board to raise its benchmark interest rate beyond market expectations. The outlook, issued by the central bank’s technical team, influences the interest rate decisions adopted by the…
(Reuters) -Singapore’s Keppel Corp on Wednesday announced a major corporate restructuring, doing away with its conglomerate form and divide itself into three distinct units, in a bid to simplify and further grow its operations. The conglomerate, which has operations ranging from data centres to renewable energy assets, will restructure itself into three businesses — fund…
(This April 27 story has been corrected to clarify that the statement is attributed to FMC commissioner, not the Commission, in paragraph 15) By Francesco Guarascio and Khanh Vu HANOI (Reuters) – Tighter U.S. rules to ban imports from China’s Xinjiang are compounding pressure on Vietnam’s apparel and footwear makers, hitting a sector that has…
By Lisandra Paraguassu BRASILIA (Reuters) -Brazil offered on Tuesday to help cash-strapped Argentina and provide support to Brazilian exporters so that they can continue to sell to the neighboring country, their main exporting market for manufactured goods. “We are not discussing just helping Argentina. We need to help Brazilian businesses that export to Argentina, like…
(Corrects April 27 story to clarify in paragraph 15 that the statement is attributed to FMC commissioner, not the Commission) By Francesco Guarascio and Khanh Vu HANOI (Reuters) -Tighter U.S. rules to ban imports from China’s Xinjiang are compounding pressure on Vietnam’s apparel and footwear makers, hitting a sector that has already shed nearly 90,000…
INCHEON, South Korea (Reuters) -South Korea’s central bank chief welcomed an easing in inflation but said it was “a little bit premature” to suggest it will start to cut rates as early as this year given that inflation is still above its policy target. Bank of Korea Governor Rhee Chang-yong also said during an interview…
By Sujith Pai BENGALURU (Reuters) – Indonesian annual economic growth likely slowed to its weakest in more than a year in January-March and shrank on a quarterly basis as lower commodity prices hit exports and higher interest rates restricted domestic demand, a Reuters poll found. Southeast Asia’s largest economy grew 4.95% in the first quarter…
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Tuesday refused to let Peloton Interactive Inc customers pursue a class action accusing the bike and treadmill maker of misleading them about the “ever-growing” size of its library of on-demand fitness classes. In a 74-page decision, U.S. District Judge Lewis Liman in Manhattan said…
By Pete Schroeder (Reuters) – The U.S. Senate Banking Committee said on Tuesday it would hear from former top officials at the failed Silicon Valley Bank and Signature Bank, as well as top U.S. banking regulators at separate hearings later this month. Gregory Becker, the former CEO of Silicon Valley Bank, and Scott Shay and…
By Daina Beth Solomon MEXICO CITY (Reuters) – Thousands of pro-business union contracts in Mexico are set to expire as Mexico ends a historic campaign to wipe out deals between employers and unions cozy with management that have kept wages low, a key commitment under a North American trade deal. Of 139,000 collective contracts in…
